Russian analysts say Belarus loan's interest rate is not commercial
Russian commentators maintain that the interest rate of the promised loan for Belarus should not be described as commercial, writes the Russian influential business daily Kommersant. Belarus's Finance Minister Mikalai Korbut said earlier that Belarus was counting on receiving a budget loan from Russia according to the interest rate LIBOR plus 0.75 percent. The minister noted that "in essence, it is a commercial credit".
Analysts suggest that "under these rates, even the best borrowers are unable to obtain a loan, leave alone Belarus with the B+ rating". They describe as simply a present of fortune to our country.
Commentators also describe the $1.5-billion loan as "a creadit of loyalty" and admit that it could put the reforms in Belarus on brakes. It has become known that the official Minsk is prepared for political concessions to Russia by shifting payments for oil transactions into the Russian currency .
The Russia's loan is expected to patch up Belarus's budget problems, following a sharp increase in prices for the Russian gas. However, Russian Finance Ministry has not taken a final decision regarding the loan for Belarus.
Analysts suggest that "under these rates, even the best borrowers are unable to obtain a loan, leave alone Belarus with the B+ rating". They describe as simply a present of fortune to our country.
Commentators also describe the $1.5-billion loan as "a creadit of loyalty" and admit that it could put the reforms in Belarus on brakes. It has become known that the official Minsk is prepared for political concessions to Russia by shifting payments for oil transactions into the Russian currency .
The Russia's loan is expected to patch up Belarus's budget problems, following a sharp increase in prices for the Russian gas. However, Russian Finance Ministry has not taken a final decision regarding the loan for Belarus.
